Femsa declined 2.3 percent to 62.95 pesos at 4:00 p.m. New
York time, the biggest decline since June 1. The company was cut
from “buy” by analysts led by Luis Miranda.

“The recommendation cut may have been an important factor
in the fall at this exact moment,” said Ana Paula Pedroni, an
analyst with IXE Grupo Financiero SAB in Mexico City.
“Investors haven’t been able to identify a significant catalyst
to boost the price of the shares in the short term.”